Not bullshit at all.
First, rather than spending the money (and either increasing the deficit or taxing), try starving the DOD and letting people keep their money. If they keep it, it will likewise either be invested or spent, doing more for the economy than having the government taking it first.
Second, cut back on H1B visas (and all immigration) to improve the job prospects for people who are already here. I thought the mantra was that immigrants were always a net good, and that they weren’t taking jobs from Americans, so we should welcome everyone (sarcasm added).
Third - move where the jobs are. I’ve moved for jobs five times in my career. If the job outlook is “grim”, go where the jobs are. Although when unemployment is less than 4%, it’s hard to consider the job market “grim” - I’ve lived in much worse job markets.
If the college degree is valuable, pay for it yourself. If it isn’t valuable, don’t pursue it. But don’t expect everyone else to pay for it for you.
Jealousy isn’t affecting my judgment - What you’re looking for is a bailout for academia. I opposed the bailout of the banks, I opposed the bailout of the automobile companies, and I oppose the bailout of the academic establishment. The whole reason we have a “student debt crisis” is that colleges have increased tuition at more than 2x the rate of inflation for more than 50 years because they don’t have to worry about how much they charge - students are conned into borrowing to cover it.